The following pages contain this image or document
Federal Environment Agency: Unecological subsidies cost 48 billion euros
Subsidies harmful to the environment are costing 48 billion euros in tax revenues every year, or about one fifth of the federal budget. That trend is unfortunately on the rise. About one half of all subsidies foster the use of fossil fuels, rendering some efforts in environmental protection void. “In times of record debt, ecologically harmful subsidies must be put subjected to serious review. A phase-out mustn’t be indiscriminate, instead it must address these unecological subsidies directly,” said Jochen Flasbarth, President of the Federal Environment Agency (UBA). The latest UBA study provides solid guidance to decision-makers in financial politics. “The crisis provides a unique opportunity to do some financial housekeeping. Unecological subsidies exert a double burden on the budget: with additional expenditures and revenue shortfalls today, and through increased costs for clean-up of damage to the environment and public health tomorrow,” continued Flasbarth. read more
